AMDY vs. CAOS

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax AMD Option Income Strategy ETF (AMDY) and Alpha Architect Tail Risk ETF (CAOS).

AMDY and CAOS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMDY is an actively managed fund by YieldMax. It was launched on Sep 18, 2023. CAOS is an actively managed fund by Alpha Architect. It was launched on Aug 14, 2013.

Performance

AMDY vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMD Option Income Strategy ETF (AMDY) and Alpha Architect Tail Risk ETF (CAOS). The values are adjusted to include any dividend payments, if applicable.

AMDY vs. CAOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	-4.00%	53.93%	-17.00%	26.24%
CAOS Alpha Architect Tail Risk ETF	0.96%	2.55%	5.33%	1.50%

Returns By Period

In the year-to-date period, AMDY achieves a -4.00% return, which is significantly lower than CAOS's 0.96% return.

AMDY

• 1D: 2.37%
• 1M: 8.22%
• YTD: -4.00%
• 6M: 19.89%
• 1Y: 68.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAOS

• 1D: -0.13%
• 1M: 0.12%
• YTD: 0.96%
• 6M: 1.23%
• 1Y: 2.95%
• 3Y*: 5.41%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMDY vs. CAOS - Expense Ratio Comparison

AMDY has a 0.99% expense ratio, which is higher than CAOS's 0.63% expense ratio.

AMDY

YieldMax AMD Option Income Strategy ETF

CAOS

Alpha Architect Tail Risk ETF

Return for Risk

AMDY vs. CAOS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMDY

AMDY Risk / Return Rank: 71
AMDY Sharpe Ratio Rank: 71
AMDY Sortino Ratio Rank: 75
AMDY Omega Ratio Rank: 72
AMDY Calmar Ratio Rank: 83
AMDY Martin Ratio Rank: 54

CAOS

CAOS Risk / Return Rank: 35
CAOS Sharpe Ratio Rank: 32
CAOS Sortino Ratio Rank: 29
CAOS Omega Ratio Rank: 61
CAOS Calmar Ratio Rank: 33
CAOS Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMDY vs. CAOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMD Option Income Strategy ETF (AMDY) and Alpha Architect Tail Risk ETF (CAOS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMDY	CAOS	Difference
Sharpe ratio Return per unit of total volatility	1.31	0.63	+0.68
Sortino ratio Return per unit of downside risk	1.96	0.90	+1.06
Omega ratio Gain probability vs. loss probability	1.28	1.23	+0.04
Calmar ratio Return relative to maximum drawdown	2.50	0.85	+1.65
Martin ratio Return relative to average drawdown	5.49	1.40	+4.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDY vs. CAOS - Sharpe Ratio Comparison

The current AMDY Sharpe Ratio is 1.31, which is higher than the CAOS Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of AMDY and CAOS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AMDY	CAOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	0.63	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	1.26	-0.82

Correlation

The correlation between AMDY and CAOS is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

AMDY vs. CAOS - Dividend Comparison

AMDY's dividend yield for the trailing twelve months is around 94.96%, while CAOS has not paid dividends to shareholders.

	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	94.96%	80.68%	109.98%	6.68%
CAOS Alpha Architect Tail Risk ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

AMDY vs. CAOS - Drawdown Comparison

The maximum AMDY drawdown since its inception was -53.92%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for AMDY and CAOS.

Drawdown Indicators

	AMDY	CAOS	Difference
Max Drawdown Largest peak-to-trough decline	-53.92%	-3.60%	-50.32%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	-3.60%	-23.99%
Current Drawdown Current decline from peak	-18.55%	-0.93%	-17.62%
Average Drawdown Average peak-to-trough decline	-19.00%	-0.90%	-18.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.58%	2.18%	+10.40%

Volatility

AMDY vs. CAOS - Volatility Comparison

YieldMax AMD Option Income Strategy ETF (AMDY) has a higher volatility of 11.82% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.74%. This indicates that AMDY's price experiences larger fluctuations and is considered to be riskier than CAOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDY	CAOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.82%	0.74%	+11.08%
Volatility (6M) Calculated over the trailing 6-month period	40.68%	1.31%	+39.37%
Volatility (1Y) Calculated over the trailing 1-year period	52.27%	4.68%	+47.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.79%	4.37%	+39.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.79%	4.37%	+39.42%